ECONOMY
Susan knows that that a lot of San Diegan families are continuing to struggle due to the slow economy. Many have lost their job and many more must live under the constant threat of losing theirs. Congress must finally come together to fix our economy.
Susan is fighting for policies that will create jobs. She is working with her colleagues to ensure that middle class Americans prosper. And, small businesses have the tools they need to innovate and thrive. She will continue fighting for investments in education, infrastructure, and scientific research that will allow American business to succeed and start hiring again.
As a mother and grandmother, Susan believes that we need to get the federal debt under control, so we do not mortgage the next generation’s future. But, efforts to fix our budget must be balanced without placing a disproportionate burden on the most vulnerable in our society – including our veterans, the poor, and disabled.
HELPING SMALL BUSINESSES
Almost 95% of businesses in the County of San Diego are small businesses. Susan is working with San Diego employers to find out what they need to create jobs and sustain growth.
- Small Business Capital – To help small businesses raise the capital they need to invest and grow, Susan supported the Jumpstart Our Business Startups Act (HR 3606), which became law 2012. The new law makes it easier for start-up companies to raise capital through the internet and loosens inefficient and unnecessary regulatory requirements for start ups and small banks while also maintaining important consumer protections.
- Easing Paperwork Requirements - After hearing from small business owners in San Diego, Susan voted to repeal the increased IRS Tax Form 1099 reporting requirements enacted under previous legislation. The last thing we want to do is place unnecessary and duplicative regulation on the backs of our small businesses; they should be free to focus on growing their business and not on paperwork. The 1099 repeal bill was signed into law in March 2011.
- Health Care Tax Credit - One of the reasons Susan supported the health care reform package is because it included provisions to help small business owners provide coverage for themselves and their workers. This credit will cover up to 50% of the premiums small business owners pay to offer coverage. The Congressional Budget office estimates that small businesses will save $40 billion through 2019.
- Business District Walkabouts - Susan holds small business walkabouts in different neighborhoods throughout her district to talk with owners about what they need in order to hire and grow, and how Congress can continue to play a role. So far she has walked through businesses in the Midway/Sports Arena area, Lemon Grove, Coronado, and Linda Vista (Little Saigon).
- “Congress at Your Company” - Designed to reach out directly to employees at their place of work, Susan visits local companies for townhall-style meetings and tours. This is another resource for her to understand the issues San Diegans care about the most and what affects them at their places of work.
ENCOURAGING INNOVATION
San Diego is home to one of the world’s largest biotechnology hubs that creates and supports thousands of jobs and conducts groundbreaking research. Susan believes that federal support for these companies is vital to encourage the continued innovation that grows San Diego’s economy and provides medical treatments and cures for millions of sick and suffering people across the world.
- National Institutes of Health (NIH) - San Diego gets more NIH funding than nearly anywhere else in the United States. Susan spearheaded a letter signed by 151 Members of Congress requesting increased NIH funding so San Diego can maintain and grow its biotechnology workforce.
- Medical Device Tax - After hearing from medical device companies in San Diego, Susan supported the Healthcare Cost Reduction Act (H.R. 436) to repeal a tax on medical devices. With San Diego’s biotechnology companies facing fierce global competition, Susan will continue working with her colleagues to eliminate unnecessary and duplicative taxes and regulations.
- Therapeutic Tax Credit - Susan introduced legislation to reauthorize the Qualifying Therapeutic Discovery Project program to encourage innovation in biotechnology.
- Patent Reform - Susan knows that a strong patent system is necessary to maintain America’s status as the world’s leader in innovation. That is why she joined her San Diego colleagues in a bipartisan letter in support of streamlining patent reform efforts in Washington.
SUPPORTING DEFENSE JOBS
As the home to one of the largest concentrations of naval forces in the world, our regional economy benefits significantly from federal defense spending. In San Diego County, defense spending impacts more than a quarter of our employment (over 300,000 jobs), a number which has grown steadily over the past decade. Susan works hard to maintain the unique economic role played by San Diego’s defense community, especially small businesses.
- Unbundling Contracts - Small businesses in San Diego have so much to offer the defense industry in the form of quality products and efficient services. Susan’s been frustrated to hear that they continually run into barriers, like the negative impact of contract bundling (when multiple contract requirements are combined into a single contract), which can force out small businesses that can’t compete for large contracts. Especially now, our government needs to help bring more businesses into the DOD procurement system, not push them out. Click here for information about legislation Susan has authored to reduce contract bundling.
- Important Shipbuilding Jobs - The Navy announced that General Dynamic NASSCO had been awarded a shipbuilding contract that will preserve3,600 San Diego jobs. The $744 million contract is to build two Mobile Landing Platform (MLP) ships, with a significant amount of work to be done in San Diego. Susan has been a strong and vocal supporter of the MLP program and the need to bring more shipbuilding contracts to San Diego’s “working waterfront.” The MLP will be used for resupplying American forces at sea] .
Helpful Links for San Diegans:
- For Jobseekers
San Diego Workforce Partnership Metro Careers Center here
California Employment Development Department here
Job training opportunities in San Diego here
- For Navigating Financial Issues
Banking and related financial issues here